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Received 40/40 Points
Week 1, Quiz 1
1.Total cost equal the fixed cost plus the variable cost per unit divided by volume
• True
• False
2.Objective probabilities that can be stated prior to the occurrence of an event are
• Subjective
• A priori
• Classical or a priori
• None of the above
3.An experiment is an activity that results in one of several possible outcomes.
• True
• False
4.Variable costs are independent of volume and remain constant.
• True
• False
5. Which of the following is an equation or an inequality that expresses a resource restriction in a
mathematical model?
• Decision variable
• Data
• An objective function
• A constraint

2. • A parameter
6. Which of the following is incorrect with respect to the use of models in decision making?
• they improve understanding of the problem
• they promote subjectivity in decision making
• they are generally easy to use
• they provide a systematic approach to problem solving
7. The steps of the scientific method are:
• Problem definition, model construction, observation, model solution
implementation
• Observation, problem definition, model construction, model solution
Implementation
• model construction, problem definition, observation, model solution
implementation
• Observation, implementation, problem definition, model construction, model
solution
8. A frequency distribution is an organization of numerical data about the events in an
experiment.
• True
• False
9. The events in an experiment are mutually exclusive if only one can occur at a time
• True
• False
10. The probabilities of mutually exclusive events sum to zero.
• True
• False
11. Which of the following is not an alternative name for management science ?
• decision sciences

3. • quantitative methods
• quantitative analysis
• operations research
• decision support systems
12. In a given experiment the probabilities of mutually exclusive events sum to
• 0
• 0.5
• 1
• Non of the above
13.____________techniques includes uncertainty and assume that there can be more than one
model solution
• Deterministic
• Probabilistic
• Distribution
• Probability
14. A set of events is collectively exhaustive when it includes_________ the events that can
occur in an experiment.
• Some of
• One of
• All
• Any of
15. A__________ probability is the probability that two or more events that are not mutually
exclusive can occur simultaneously.
• Joint
• Marginal
• Subjective

4. • Binomial
16. In a given experiment, the probabilities of all mutually exclusive events sum to one
• True
• False
17. Profit is the difference between total revenue and total cost.
• True
• False
18. Fixed costs depend on the number of items produced
• True
• False
19. A model is a functional and include
• Variable
• Parameters
• Equations
• All of the above
20. The term decision analysis refers to testing how a problem solution reacts to changes in one
or more of the model parameters
• True
• False